IndicesCDX

Markit CDX indices are a family of tradable CDS indices covering North America and emerging markets.

Customers

  • Banks
  • |
  • Asset managers
  • |
  • Hedge funds
  • |
  • ETF providers

Statistics

  • 40%of total CDS notional in DTCC
  • 2roll dates per year

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Product Summary

Our selection methodology ensures that the indices represent the most liquid segment of the market. The high liquidity and transparency provided by the indices make it possible to trade credit index tranches, options and first-to-default baskets.

Markit CDX indices cover multiple sectors, with the main indices being Markit CDX North American Investment Grade, Markit CDX North American Investment Grade High Volatility, Markit CDX North American High Yield, Markit CDX North American High Yield High Beta, Markit CDX Emerging Markets and Markit CDX Emerging Markets Diversified.

The Markit CDS indices roll semi-annually, in March and September. Credit events that trigger settlement for individual components are bankruptcy and failure to pay, and credit events are settled via auctions.

    Key Benefits

    • Trading efficiency

      Ability to trade large sizes quickly and confirm all trades electronically

    • Liquidity

      Wide dealer and industry support, allowing for significant liquidity in all market conditions

    • Transparency

      Pricing freely available daily on all indices, and all index characteristics standardised and documented

    • Data integrity

      Contributed prices from multiple leading banks, with rigorous quality control process applied

    Data Commentary

    News & Information

    Important notifications and public information about our indices, including changes to upcoming series following index rolls, credit events on constituents and issuance of new indices

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    Documentation

    Publicly available documentation relating to our indices, including methodologies, annexes and educational guides, as well as trading and legal documents for tradable indices

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